By Saurabh Chaturvedi
SINGAPORE--Singapore Airlines Ltd. (C6L.SG) Thursday reported a 28% on-year decline in its fiscal fourth-quarter net profit, due partly to a rise in fuel costs and a fall in passenger yields.
Net profit in the January-to-March quarter was 202.6 million Singapore dollars (US$148 million), compared with S$281.1 million in the same period of the previous year. Net profit was lower than the S$232.1 million estimated by analysts on FactSet.
Revenue rose to S$4.08 billion from S$4.02 billion a year ago, Singapore Airlines said in a statement to the Singapore Exchange.
Passenger yield fell slightly to 10.2 Singapore cents a kilometer in the fourth quarter from 10.3 Singapore cents a year ago. Yield, or revenue per passenger per kilometer flown, is an important metric of an airline's ability to generate revenue.
Fuel costs, which make up nearly a third of the airline's total expenses, rose about 7% on-year to S$1.09 billion, the airline said.
Write to Saurabh Chaturvedi at email@example.com